<p>Stephen Schwarzman, the CEO, chairman and co-founder of investment giant Blackstone Group Inc., is not a fan of bitcoin (BTC).</p> <p>“I don’t have much interest in that because it’s hard for me to understand,” Schwarzman, who leads the firm with over $500 billion of assets under management, <a href="https://fortune.com/2019/09/17/blackstone-ceo-steve-schwarzman-on-hong-kongs-unrest-the-rise-of-bitcoin-and-fundraising-as-an-out-of-body-experience/">told</a> Fortune in an interview published Tuesday. He added that he is not going to own any bitcoin.</p> <p>Schwarzman believes that government-issued currencies are safer as these “control bad behavior” and ensure that the economy is “as insulated as it can be from excesses.”</p> <p>Cryptocurrencies, on the other hand, only encourage criminal activities, according to Schwarzman. “The idea that you can transact without anybody knowing anything, you could have a lot of criminal behavior — dirty money, drug money — running all over the world. It only encourages that kind of activity,” he said.</p> <p>Schwarzman, however, admits that he may be a “limited thinker,” and that if cryptocurrencies can solve the issue of criminal activities, then “it might be OK.”</p> <p>While Schwarzman has dismissed bitcoin, he is in favor of the underlying blockchain technology. “That is clearly a good thing,” he said, adding that Blackstone could invest in companies using blockchain. </p>